"Designing Growth Strategies is in our DNA"

Reading Glasses Market Size, Share & Industry Analysis, By Age Group (Less than 18 years, 18-64 years, and 65 years and above), By Type (Prescription Reading Glasses and OTC Reading Glasses), By Distribution Channel (Retail Stores, Online Sales Channels, Ophthalmol-ogy Clinics), and Regional Forecast, 2019-2026

Region : Global | Format: PDF | Report ID: FBI102606

 

KEY MARKET INSIGHTS

Play Audio Listen to Audio Version

The global reading glasses market size stood at USD 34.92 billion in 2018 and is projected to reach USD 53.23 billion by 2026, exhibiting a CAGR of 5.4% during the forecast period.

COVID-19 Cover

We are in process of revamping Reading Glasses Market with respect to COVID-19 Impact.

Request Sample

Reading glasses are the types of spectacles used to aid in vision when a person is not able to read the content properly. This can be attributable to various ocular disorders, such as hyperopia, astigmatism, presbyopia, and many more. Growing prevalence of these conditions, especially among the geriatric population is projected to increase the demand for reading glasses across the globe. The market is mainly driven by the developed regions owing to high adoption of premium branded products and strong growth of OTC readers in these regions.


MARKET TRENDS


Request a Free sample to learn more about this report.


Increasing Demand for Trendy Designs and Branded Products in among the Young Population


The consumers are more interested in buying fashionable looking frame designs such as cat eye frames, frames based on the face shape, frames designed with specific materials such as wooden frames, and other frames such as double bridge frames. The eyeglasses frame styles are constantly being revolutionized and the growing introduction of advanced frame styles is a popular reading glasses market trend. Moreover, advancements in the material of eyeglass frame for example use of polycarbonate, titanium, or stainless steel, etc. are projected to boost the demand for trendy designs of reading glasses in the coming years.


MARKET DRIVERS


Growing Prevalence of Ocular Disorders and Increasing Need of Vison Correction to Fuel Growth


Over the past few years, a demographic shift towards aging population has been witnessed across the developed regions. This is more prevalent among the population of over 40 years old. According to the World Health Organization, by 2050, the worlds population aged 60 years and older is expected to total 2 billion, up from 900 million in 2015. With age, degeneration of the eyes results into visual disabilities such as difficulties in reading smaller prints or small objects clearly. The prevalence of presbyopia is increasing at a significant rate among adults. According to the American Academy of Ophthalmology, in 2015, there were 1.8 billion people (25%) with presbyopia globally. Among them, the global unmet need for presbyopia correction was 45%. Moreover, the prevalence of corneal astigmatism has been largely reported to occur among the older people. Thus, growing aging population, increasing prevalence of ocular disorders, and rising usage of mobiles, computers, and other gadgets are likely to drive the reading eyeglasses market growth during the forecast period.


Expansion of Online Sales Channels to Drive Growth


The increase in the sales of reading glasses through online sites, growing internet penetration in the emerging nations, growing use of the mobiles, changing buying behavior of the customers to prefer online portals are likely to drive the market growth during the forecast period. Moreover, redesigning of the sales and marketing strategies by leading players to address this buying behavior and to target proper distribution channel would further propel the sales in the near future.


MARKET RESTRAINT


Limited Awareness about Ocular Disorders and High Cost of Frames to Slow Sales of Reading Glasses in Emerging Regions


Visual disabilities are common among the population across the globe. Despite this, the market is highly underpenetrated, especially in the emerging regions of the world. This is attributable to the limited awareness about ocular disorders and availability of advanced technologies to cure them. Moreover, high cost of frames and lenses and unaffordability to buy them in economically weak nations are likely to hinder the market growth. For instance, as per the study conducted among the Indian taxi drivers by a leading manufacturer of eyeglasses, it was found that, out of 2100 taxi drivers tested, more than 25% were unaware that they required vision correction glasses. Moreover, poor accessibility for corrective lenses limits the market growth. Currently, there is just one eyeglass store per 70,000 people which should be at least one against 10,000 people in India.


SEGMENTATION


By Age Group Analysis


To know how our report can help streamline your business, Speak to Analyst


18-64 Years Age Group Segment to Dominate the Global Market


Based on age group, the market is segmented into less than 18 years, 18-64 years, and 65 years above. Among them, the 18-64 years age group segment held a dominating reading glasses market share in 2018. This was attributable to the growing prevalence of visual impairments among the adults such as presbyopia, hyperopia, and farsightedness. These refractive errors result in difficulties in focusing on closer objects. Along with this, the growing usage of computers and smartphones for working as well as entertainment purposes are projected to increase ocular problems, further resulting in an increased demand for reading glasses for this age group. The segment is projected to continue its dominance throughout the forecast period expanding at a significantly high CAGR.


By Type Analysis


Prescription Reading Glasses Segment to Hold Lions Share in The Market


In terms of type, the market is segmented into prescription reading glasses and OTC reading glasses, also known as readymade reading glasses. Among them, the prescription reading glasses segment held significantly high market share in the year 2018. The segment is also projected to expand at the highest growth rate throughout the forecast period. This is attributable to the growing importance of choosing the correct eyeglasses strength among the population. Moreover, the disadvantages of off-the-shelf/OTC readers such as availability of the same corrective strength for both eyes, headache due to wrong reading glass strength chosen, and comparatively poor quality of glasses in terms of durability and scratch resistance are some of the factors responsible for the growing preference of prescription reading glasses.


By Distribution Channel Analysis


Online Sales Channels to Emerge as New and Effective Platform to Target Consumers


In terms of distribution channel, the reading eyeglasses market is segmented into retail stores, online sales channels, and ophthalmology clinics. Among them, the retail stores segment dominated the market in the year 2018. However, growing preference of online purchase of the spectacles, increasing focus of leading players to target online channels, huge discounts offered, and convenience of shopping are some of the major factors expected to drive the growth of online sales channels segment throughout the study period.


REGIONAL ANALYSIS


North America Reading Glasses Market Size, 2015-2026 (USD Billion)

To get more information on the regional analysis of this market, Request a Free sample


The reading glasses market has been segregated into the regions such as North America, Europe, Asia pacific, Latin America, and the Middle East & Africa. The reading glasses market size in North America stood at USD 14.32 billion in 2018. The dominance of the region was associated with the increasing sales of premium brands, high cost of the products in the U.S., growing prevalence of presbyopia among the population, and strong presence of leading players with wide distribution network in the country. Europe held the second largest market share of reading glasses majorly due to the presence of the top manufacturers in countries such as Italy, the U.K., and Germany, presence of huge geriatric population with high prevalence of refractive errors, and high awareness about the advanced products among the population in this region. However, Asia Pacific is projected to exhibit strong growth owing to the facts such as increasing focus of players to penetrate the untapped market and launch of products in semi-premium and lower cost range to be affordable to the economically weaker zones.


KEY INDUSTRY PLAYERS


Diverse Portfolio and Strategic Partnerships to Expand the Geographical Presence Are Key Growth Strategies


Competitive landscape of the reading glasses market depicts that the market is fragmented with the presence of many local and international players. However, consolidation of the market has been an important trend that is witnessed in the market. For instance, in October, 2018 Essilor International SA merged with an Italian eyewear company called Luxottica Group SpA. This merger has resulted in the creation of a giant in the eyewear industry. The key international players in reading glasses industry include Bausch & Lomb Incorporated., EssilorLuxottica, Carl Zeiss, and others. Moreover, key players are engaged in partnerships with local players or sales channels to expand their footprints across globe.


LIST OF KEY COMPANIES PROFILED:



  • Bausch & Lomb Incorporated.

  • EssilorLuxottica

  • Carl Zeiss

  • Johnson & Johnson Services, Inc.

  • Hoya Corporation

  • De Rigo Vision S.p.A.

  • ZENNI OPTICAL, INC.

  • ThinkOptic Inc

  • Other prominent players


KEY INDUSTRY DEVELOPMENTS:



  • June 2019 – FGX International went in collaboration with Restoring Vision to launch the first reading glasses day on 07 June, with vision of raising awareness about the lack of access to reading glasses in developing countries, and the impact that vision correction through reading glasses has on peoples lives

  • May 2018 Lenskart Solutions announced that it has invested $500,000 in the California based reading glass maker Thinoptics Inc. which is engaged in making reading glasses that can be kept on readers nose, attached to the smartphone, the keychain, or laptop.


REPORT COVERAGE


An Infographic Representation of Reading Glasses Market

To get information on various segments, share your queries with us



The reading glasses market report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product types, and leading applications of the product. Besides this, the report offers insights into the market trends and highlights key reading glasses industry developments. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth of the market over the recent years.


Report Scope & Segmentation











































 ATTRIBUTE



 DETAILS



Study Period



  2015-2026



Base Year



  2018



Forecast Period



  2019-2026



Historical Period



  2015-2017



Unit



  Value (USD billion)



Segmentation



By Age Group



  • Less than 18 years

  • 18-64 years

  • 65 years and Greater



By Type



  • Prescription Reading Glasses

  • OTC Reading Glasses



By Distribution Channel



  • Retail Stores

  • Online Sales Channels

  • Ophthalmology Clinics



By Geography



  • North America (U.S. and Canada)

  • Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)

  • Asia-Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia- Pacific)

  • Latin America (Brazil, Mexico, and Rest of Latin America)

  • Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)



Frequently Asked Questions

Fortune Business Insights says that the global market size was USD 34.92 billion in 2018 and is projected to reach USD 53.23 billion by 2026.

In 2018, the market value stood at USD 34.92 billion.

Growing at a CAGR of 5.4%, the market will exhibit steady growth in the forecast period (2019-2026).

Prescription reading glasses is the leading segment in this market.

Growing prevalence of presbyopia is the leading factor driving the market.

EssilorLuxottica is the leading player in the global market.

North America held the highest market share in 2018.

Seeking Comprehensive Intelligence on Different Markets?
Get in Touch with Our Experts

Speak to an Expert
Reading Glasses Market Size, Share and Global Industry Trend Forecast till 2026
  • Apr, 2020
  • 2018
  • 2015-2017
  • 125

    CHOOSE LICENSE TYPE

  • 4850
    6850
    8850

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Client Testimonials

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . More info.
X